Why New Oriental Education Stock Got Crushed Today
Shares of New Oriental Education (NYSE: EDU) have gotten crushed today, down by as much as 10%, after the company reported fiscal second-quarter earnings. The results beat expectations, while guidance was mostly in line with current estimates.
Revenue in the fiscal second quarter increased 13% to $887.7 million, which was ahead of the $882.3 million in sales that Wall Street analysts were modeling for. That translated into adjusted earnings per American depositary share (ADS) of $0.43, topping the consensus estimate of $0.33 per ADS in adjusted profits. The company recently listed its shares on the Hong Kong Stock Exchange, raising nearly $1.5 billion in fresh capital.
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Source Fool.com
